PriceSmart (NASDAQ: PSMT ), Inc. has announced strong financial results in its earnings release conference call for the fourth quarter of fiscal year 2023, ending on August 31, 2023. The company reported net merchandise sales of over $1 billion and total revenues exceeding $4.4 billion for the fiscal year. Despite incurring expenses due to a minimum tax dispute settlement and the closure of a packaging plant, the company posted a net income of $109.2 million for the fiscal year. Key takeaways from the call: Net merchandise sales increased by 10%, and membership accounts grew by 2.5%. Gross margin increased by 10 basis points. Operating income increased by 10.4% to $184.5 million. The company closed the quarter with cash and cash equivalents totaling $252.2 million. PriceSmart plans to expand its merchandise offerings, add health services, and grow its online shop. The company is focused on increasing its business-to-business sales segment. PriceSmart attributes its strong financial performance to its dedicated employee team, a robust membership base of over 1.8 million, and a strong reputation in the region. The company plans to leverage these assets for future growth. As part of its growth strategy, PriceSmart aims to enhance its value proposition by […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
